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Level 1

401K Contribution

We just hired a new employee who would like us to deduct contributions to his personal 401K pre-tax dollars.  Our company does not offer 401K for employees.  Can this be done? If so, how?


Marylee A.

1 Comment
Level 15

401K Contribution

Right Here: "Our company does not offer 401K for employees"


Your Employee has an Old 401(k) Account because some previous employer offered that Plan. They should "direct transfer roll that to a Traditional IRA account" and not leave it with the Old Employer.


And No, you cannot do this.

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